https://www.taxtmi.com/caselaws?id=299613 The Tribunal dismissed the application challenging the resolution passed by the Committee of Creditors (CoC) for the liquidation of Corporate Debtor (CD) M/s. Newgen Specialty Plastics Ltd. due to misrepresentation. The CoC's claim of ignorance regarding the procedure was rejected, emphasizing their responsibility for informed decisions. Subsequently, the Tribunal issued a liquidation order for the CD as no resolution plan was submitted within the specified period, appointing Mr. Anil Kumar as the Company Liquidator and outlining the necessary steps for the liquidation process. en-us Mon, 06 Jan 2020 00:00:00 +0530 Wed, 22 Dec 2021 20:35:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299613 The Tribunal dismissed the application challenging the resolution passed by the Committee of Creditors (CoC) for the liquidation of Corporate Debtor (CD) M/s. Newgen Specialty Plastics Ltd. due to misrepresentation. The CoC's claim of ignorance regarding the procedure was rejected, emphasizing their responsibility for informed decisions. Subsequently, the Tribunal issued a liquidation order for the CD as no resolution plan was submitted within the specified period, appointing Mr. Anil Kumar as the Company Liquidator and outlining the necessary steps for the liquidation process. Case-Laws Insolvency and Bankruptcy Mon, 06 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299613